Friday, May 30, 2014

$GS and $DB cut their price target's in half on $BLOX - Trading at 10 year lows pre market

Infoblox downgraded to Neutral from Buy at Goldman
May 30 at 05:34

Goldman Sachs downgraded Infoblox to Neutral citing a lack of product
revenue growth following the company's Q3 results. The firm lowered its price
target for shares to $15 from $31. Shares of Infoblox were also downgraded
this morning at Deutsche Bank. Deutsche Bank downgraded Infoblox to Hold following the company's weaker than expected guidance. The firm dropped its price target for shares to $18
from $30.

Piper lowered its price target for
shares to $20 from $30 and reiterates an Overweight rating on the name.

Infoblox downgraded to Sector Perform from Outperform at

Pacific Crest

Infoblox downgraded to Equal Weight from Overweight at Stephens
May 30 at 08:29
Profile hits: QU2

Note this is the fifth downgrade of the day.

$BLOX Infoblox downgraded earlier to Neutral from Buy at UBS
- Note this is the sixth downgrade of the day.

Needham raises their PANW tgt to $95 from $87. F3Q results were
strong, and the revenue beat was accompanied by a very strong billings
performance of +46% y/y. A number of datapoints from the call support firm's thesis that PANW is increasingly viewed as a "platform" in next-gen security and is getting invited to larger deals; Buy.

Cantor Fitzgerald upgraded its rating on shares of Twitter (TWTR) to Buy
from Hold citing the recent pullback in shares as well as the company's
"substantial" growth and monetization opportunity. Cantor points out the stock
has sold off over 50% and says it sees more upside than downside in the stock.
The firm keeps a $40 price target for shares, which closed yesterday up $3.26
to $33.77.

Twitter, which has been blocked in China for six years, is exploring what
type of service it could launch in the country "down the road," CEO Dick Costolo
said at the Code Conference, Re/code reports. The company is currently in the
"very beginning stages of conversations about what it would look like or feel
like," Costolo said.

Deutsche Bank says Palo Alto's (PANW) $175M settlement with Juniper
(JNPR), which included no royalty fee, was "considerably" better than buy-side
expectations, which it pegs at a $500M payment and a 2%-3% royalty. Deutsche
believes Palo Alto's investment case is "materially de-risked" following the
positive settlement news and it raised its price target for shares to $95 from
$90. Deutsche has a Buy rating on the stock.

JPMorgan lowered its price target for 3D Systems shares to $37 following
the company's 95M share capital raise. The firm finds the stock "richly-valued,"
but believes those owning the name should keep the position heading into the
investor day event on June 10. JPMorgan keeps a Neutral rating on 3D.

Sunday, May 18, 2014

Avon Products shares are around the same price they were in the late 1990s
and look compelling. Patient investors should consider the stock, Barron's
contends in a feature article. Bulls see the stock climbing to the low $20s in a
couple of years, the paper adds.

Wednesday, May 14, 2014

April showers have brought May flowers--and May has brought losses for
Tesla Motors ( TSLA) with it.
Shares of Tesla Motors have dropped 9.3% so far this month, and the
upstart automaker can't blame its weakness on the market--the S&P 500 has gained
0.5% so far in May--or weakness in automakers-- Ford ( F) has dropped 2%, while
General Motors ( GM) has risen 1.3%. It can't even blame the momentum selloff,
as the iShares MSCI USA Momentum ETF ( MTUM) has gained 1.5% so far this month.
So that leaves, Tesla's earnings, which were better than analysts had
forecast but triggered concerns about higher costs and lower margins. Deutsche
Bank's Rod Lache and team think those worries are overdone:
Based on disclosures in Tesla's 10Q, we now believe that first-quarter
margins were better than they appeared, supporting expectations for significant
intermediate term earnings despite a significant increase in operating expenses.
4Q13 appears to have been a legitimate 25% margin quarter, after netting out a
warranty gain and a one-time charge which offset the gain. Tesla disclosed
changes in pre-existing warranties of $8.12MM in 1Q14 (this likely includes
the $2MM one-time charge for additional underbody protection Tesla mentioned in
their Q1 release). Excluding this charge, Tesla achieved gross margin of 26.6%
vs. the 25.4% reported. All of this makes our 26.1% gross margin est for Q2
appear quite achievable, and that the company should be able to reach at least
28% by 4Q14 even if there is some moderation of mix.
Lache rates Tesla Neutral with a $220 price target "based on valuation,
and based on our belief that upside/downside risks for Tesla are relatively
balanced."
Shares of Tesla Motors have gained 0.2% to $190.48 at 10:01 a.m., while
General Motors has dropped 0.7% to $34.91 and Ford is off 0.2% at $15.83.